Category: Markets
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USDJPY & USDCHF lower in early trading to start the new week. What next technically?
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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SpaceX tapped to bring NASA astronauts home from Boeing’s troubled Starliner By Investing.com
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NASA said its two astronauts stuck at the International Space Station will return home in a SpaceX spacecraft in early 2025, while the Boeing (NYSE:) spacecraft that carried them to the station will return without a crew. Astronauts Butch Wilmore and Sunita Williams will remain aboard the International Space Station…
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E-mini S&P contract is little changed
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The S&P 500 US E-mini contract is trading unchanged at 5652.75. Its high was 5659.25 while its low extended to 5646.50. Major indices closed higher last week for the second week in a row. The Dow rose 1.27% after rising 2.94% the previous week. The S&P 500 rose 1.45% after…
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E-mini S&P contract is little changed
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The S&P 500 US E-mini contract is trading unchanged at 5652.75. Its high was 5659.25 while its low extended to 5646.50. Major indices closed higher last week for the second week in a row. The Dow rose 1.27% after rising 2.94% the previous week. The S&P 500 rose 1.45% after…
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Fire at Rivian’s Illinois plant damages multiple EVs, no injuries reported By Reuters
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(Reuters) – U.S. startup Rivian Automotive said on Sunday a fire broke out in the parking lot of its manufacturing facility in Normal, Illinois, late on Saturday, damaging several of its electric vehicles. No injuries were reported and the cause of the fire is under investigation, a company spokesman told…
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Fire at Rivian’s Illinois plant damages multiple EVs, no injuries reported By Reuters
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(Reuters) – U.S. startup Rivian Automotive said on Sunday a fire broke out in the parking lot of its manufacturing facility in Normal, Illinois, late on Saturday, damaging several of its electric vehicles. No injuries were reported and the cause of the fire is under investigation, a company spokesman told…
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Powell’s Path: Rate cuts and economic outlook after Jackson Hole Summit
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The Jackson Hole Summit concluded, highlighting Fed Chair Powell’s speech on Friday, in which he explicitly laid out the path for a September rate cut. The cut would be the first policy change since July 2023, when the Fed raised rates by 25 basis points to a high target of…
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Nestle to keep Health Science unit after CEO’s exit, chairman tells paper By Reuters
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(Expand distribution.) ZURICH (Reuters) – Nestle intends to keep its health sciences unit, Chairman Paul Bulcke said in a newspaper interview published on Sunday, after the food giant announced it would replace Chief Executive Mark Schneider with veteran Laurent Frix. The healthcare business is among Nestle units that some analysts…
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Column-US rate shift infects dollar, but prognosis isn’t terminal: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – The dollar has been hit hard by aggressive repricing of U.S. interest rate expectations but it is likely too early to write off the greenback. The dollar is currently at its weakest level this year against a basket of major and emerging market…
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Premium Forex Watch Recaps: Aug. 20 – 21, 2024
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Our currency strategists this week focused on inflation data and flash business surveys, particularly from Canada and the Eurozone for potential high-quality setups. Of the four scenario/price outlook discussions this week, It can be said that only one discussion saw both fundamentalist and technical arguments raised. To become a potential…
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Premium Forex Watch Recaps: Aug. 20 – 21, 2024
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Our currency strategists this week focused on inflation data and flash business surveys, particularly from Canada and the Eurozone for potential high-quality setups. Of the four scenario/price outlook discussions this week, It can be said that only one discussion saw both fundamentalist and technical arguments raised. To become a potential…
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Israel stocks higher at close of trade; TA 35 up 1.97% By Investing.com
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Investing.com – Israeli stocks were higher after the close on Sunday, as gains in the banking and financial services sectors led shares higher. At the close in Tel Aviv, the index rose 1.97% to reach an all-time high. The session’s top performer was Enlight Renewable Energy Ltd (TASE:), which rose…
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China’s yuan set for longest weekly winning streak since 2021 By Reuters
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SHANGHAI (Reuters) – Sterling edged up slightly against the weaker dollar on Friday and looked set for a fifth straight weekly gain, its longest winning streak in more than three years. The yuan was supported by stronger corporate interest in repatriating their foreign exchange earnings on the back of recent…
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Billionaire Adani’s Mumbai slum revamp struggles to secure land in potential setback By Reuters
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Written by Dhwani Pandya MUMBAI (Reuters) – A joint venture led by billionaire Gautam Adani is struggling to secure land to rehabilitate poor residents of one of Asia’s biggest slums in Mumbai, a government official said, posing a fresh challenge to an ambitious reconstruction plan. The Dharavi slum, about three-quarters…
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Billionaire Adani’s Mumbai slum revamp struggles to secure land in potential setback By Reuters
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Written by Dhwani Pandya MUMBAI (Reuters) – A joint venture led by billionaire Gautam Adani is struggling to secure land to rehabilitate poor residents of one of Asia’s biggest slums in Mumbai, a government official said, posing a fresh challenge to an ambitious reconstruction plan. The Dharavi slum, about three-quarters…
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Analysis-After battle with yuan bears, China is now keen to avoid sharp currency gains By Reuters
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SHANGHAI (Reuters) – After spending a year trying to put a floor under the slumping yuan, China’s central bank is suddenly facing the opposite problem and is resorting to underhanded means to prevent the currency from rising sharply. The Chinese yuan, which is usually pegged, rose 1.3% against the dollar…
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Newsquawk Week Ahead: Highlights include US PCE, UoM, Global CPI’s, and NVDA earnings
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MondayUK Market Holiday (Bank Holiday), German Ifo Index (August) Tuesday: China central bank meeting minutes, China industrial profits (July), German GfK consumer confidence (September) Get married:Australian CPI (July), NVIDIA (NVDA) Earnings (Q2) ThursdaySpanish CPI (Aug), German Länder CPI (Aug), Eurozone Sentiment Survey (Aug), US GDP (2nd) and Personal Spending Index…
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This is how to hedge against higher geo-economic risks: Citi By Investing.com
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In light of rising geopolitical tensions and increasing uncertainty about economic policy, Citi Research has updated its Geo-Economic Risk Premium (GRP) model to provide strategic guidance to investors. Citi’s GRP model, which measures the discount rate applied to global equities due to geopolitical and economic risks, has shown a significant…
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South African rand jumps as Fed’s Powell signals lower rates By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand jumped on Friday after comments from Federal Reserve Chairman Jerome Powell suggested an interest rate cut next month. At 1520 GMT, the rand was trading at 17.71 rand to the dollar, up 1.82% from its previous close. “The time has come to adjust policy,”…
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Weekly Market Outlook (26-30 August)
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Upcoming Events: Monday: PBoC MLF, German IFO, US Durable Goods Orders. Tuesday: Consumer confidence in the United States. Wednesday:Australia Monthly CPI and Nvidia Earnings. ThursdayUS GDP Q2:Second abbreviation US unemployment claims estimates. FridayTokyo CPI, Japan Retail Sales, Eurozone Spot CPI and Unemployment Rate, Canada GDP, US Personal Spending. Tuesday The…